Classify each of the following statements as positive or normative. Statement Positive Normative.
a) The Federal Reserve should reduce the rate of money growth.
b) Economic development should not take place at the expense of social justice.
c) A price set at lower than the equilibrium price will lead to shortages.
d) The government should limit unemployment benefits to last for only two years.
e) Policy makers face trade-off between equality and efficiency."
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